50 Cent ordered to pay $5 Million to Rick Ross' Baby Mother & Files For Bankruptcy

ComptonPrince said:
 
Nah you just dont stop messin with your son once he become a teenager just cause u dont like the way a woman talks about you...

50 worth over 100 M's u really think his baby mom is gon work???
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his son was being brainwashed by the mom and stopped messing with 50 first because of that

you really think a man in the spotlight is gonna disregard his only son at the time for no apparent reason 
 
Uncle Thomas said:
 
his son was being brainwashed by the mom and stopped messing with 50 first because of that

you really think a man in the spotlight is gonna disregard his only son at the time for no apparent reason 
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That's exactly what he doin now in every interview he sounds ******ed as to why he don't mess with him

Angie Martinez asked him hey Fif why don't you just call him, you ever think maybe he scared of you?

50:Nah I never thought of that...
 
u don't think these judges don't know he's trying to sway the lawsuit by filing for bankruptcy? he's trying to manipulate the judges but i'm not sure if it's gonna work for him. he's one of the richest rappers in the world, they can't be that stupid. :rofl:
 
2 pages deep and nobody posted the 50 car gif.

What's going on ya'll 
laugh.gif
 
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It's Chapter 11. I'm assuming most of his money is in investments/stocks so he just needs time to convert it to cash.

50 will be fine.
 
TimidTebow said:
How Do you successfully file for bankruptcy if you have money?? Will dude lose his house?
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"This filing buys him the time he wants/needs to pay his debts. He's not "bankrupt" in the typical usage of the term.
He's filing chapter 11 bankruptcy; this is not bankruptcy as most citizens know it. The bankruptcy that most people know is Chapter 7 bankruptcy (or chapter 13 under certain conditions) and is a total reset where you are left with no assets and no debts.
Chapter 11 bankruptcy is typically known as a "restructuring" bankruptcy. Given the lawsuits they quote in the article, I would assume he does not have immediate access to the liquid assets necessary to pay his immediate debts. This filing is to protect his investments while his financial team develops the most appropriate plan to pay his lawsuit debts. Paying $20mm is not an emergency for someone worth $500mm; paying $20mm in the next 30 days for most people of significant wealth is an emergency--most of their wealth is in investments. Think Zuckerberg here... Net worth of ~40 billion. 24 billion of that is in Facebook stock. It's not easy to free up mass units of stock for their fair market value because selling off large units of stock tanks the stock value."
 
Essentially 50 doesn't have 20m liquid and is buying time .
Going liquid too fast may result in a stocks price plummeting so you buy time .
 
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python002 said:
"This filing buys him the time he wants/needs to pay his debts. He's not "bankrupt" in the typical usage of the term.
He's filing chapter 11 bankruptcy; this is not bankruptcy as most citizens know it. The bankruptcy that most people know is Chapter 7 bankruptcy (or chapter 13 under certain conditions) and is a total reset where you are left with no assets and no debts.
Chapter 11 bankruptcy is typically known as a "restructuring" bankruptcy. Given the lawsuits they quote in the article, I would assume he does not have immediate access to the liquid assets necessary to pay his immediate debts. This filing is to protect his investments while his financial team develops the most appropriate plan to pay his lawsuit debts. Paying $20mm is not an emergency for someone worth $500mm; paying $20mm in the next 30 days for most people of significant wealth is an emergency--most of their wealth is in investments. Think Zuckerberg here... Net worth of ~40 billion. 24 billion of that is in Facebook stock. It's not easy to free up mass units of stock for their fair market value because selling off large units of stock tanks the stock value."
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I see we're lifting responses from Reddit now lmao

 
s a statement regarding his filing for chapter 11 bankruptcy protection.


50 Cent's lawyer has released a statement regarding his filing for bankruptcy. 50 Cent's given name is Curtis Jackson.

"The filing allows Mr. Jackson to reorganize his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests," says William A. Brewer III, partner at Brewer, Attorneys & Counselors, and counsel to Mr. Jackson, in a statement per Billboard.

"Mr. Jackson’s business interests will continue unaffected in the ordinary course during the pendency of the chapter 11 case," the statement continues. "This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs"

(The original coverage of this story was published today [July 13] and is as follows.)

50 Cent filed for chapter 11 bankruptcy protection today (July 13), according to The Wall Street Journal.

The G-Unit rapper reported that both his assets and debts are in the range of $10 to $50 million.

50 Cent filed papers in the U.S. Bankruptcy Court in Hartford, Connecticut.

Chapter 11 bankruptcy is typically referred to as a "reorganization" bankruptcy, according to the United States Courts' website. "This chapter of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership," the site says. "A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11."

On Friday (July 10), 50 Cent was ordered to pay $5 million to Lastonia Leviston for posting a sex tape of her. Leviston has a daughter with Rick Ross, with whom 50 Cent has a rivalry.

50 Cent appears in the forthcoming film Southpaw, which is due July 24. The second season of Power, the Starz network program in which he stars and executive produces, is airing.

For additional 50 Cent coverage, watch the following DX Daily:



http://hiphopdx.com/news/id.34628/title.50-cent-files-for-bankruptcy
 
NYC Street Cat said:
Shall we revisit why he is in this predicament? Beef w Rozay.  Some bs happened at BET awards. They exchanged some shots on wax.  50 made those Officer Ricky vids and then took a pic w Ross' baby momma.  Son had no chill and decided to put her sextape online.  IMO, went way too far with that move, but war is war.  He was ordered to pay $5M cause of his own actions.  He can't take his L like a man? Pulling the ol "you can't play with my ball, give it back".  

What I don't understand is that this street cat has been suing other ppl like Q from WSHH for petty stuff. Making fun of Diddy for the UCLA incident. Making fun of Shah for not bailing out Bobby, but he can't take his own L. Yet he's out here here pulling these moves?

Give 50 cent your biggest hee-haw.  
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Thread/.
 
dude does anything for attention it seems, not sure how people could sit there and love his corny trolling at times :smh:
 
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